BASF plans US$900 million expansion project in Nanjing

Posted by Reading Time: < 1 minute

Mar. 24 – China’s largest oil refiner Sinopec and Germany-based BASF officially submitted a planned US$900 million project extension at its joint venture in Nanjing for review by the Chinese authorities on March 19.

The project, enlarging the annual production volumes of ethylene pyrolysis at Yangtsi-BASF from 600,000 tons to 750,000 tons, represents BASF’s largest petrochemical project outside Germany according to a report issued by the Ministry of Commerce.

BASF plans to tap China’s rising demand for ethylene as the country looks to more than double production capacity of the chemical by 2010. Currently imports account of half of the country’s ethylene needs.

“The completion of the feasibility study marks an important step forward,” said Wang Tianpu, president of Sinopec.